14 multinational pharmaceutical companies' 2019 financial reports

Wen Mu Mu Mu Recently, the global pharmaceutical giants have released their 2019 annual performance reports one after another! Up to now, at least 14 multinational pharmaceutical companies have released "report cards" This paper will review the revenue of these 14 pharmaceutical companies in 2019, the performance of key products, the performance in the Chinese market and the expectation in 2020 According to the current published revenue situation of each pharmaceutical enterprise, compared with the revenue ranking in 2018, the top ten pharmaceutical enterprises and their ranking have changed Among them, Pfizer, Roche and Novartis are still in the top three, but compared with 2018, Roche and Novartis rank in a different order Johnson & Johnson and Sanofi dropped from No 4 and No 5 to No 6 and No 7 respectively, and they were replaced by mosadon and GlaxoSmithKline In addition, it is worth noting that Lilly fell out of the top 10, while Bristol Myers Squibb advanced into the top 10, which may be related to the acquisition of new base by BMS It is expected that its ranking will continue to rise in 2020, and it is expected to be in the top five Figure 1: ranking of revenue of 14 multinational pharmaceutical companies in 2019 Source: company financial report, Zhongkang Industrial Capital Research Center Pfizer achieved a total revenue of US $51.75 billion in 2019, down 4% year on year Among them, the revenue of biopharmaceutical business, Upjohn business and consumer health business was US $39.419 billion (+ 8%), US $10.233 billion (- 16%) and US $2.098 billion (- 40%), respectively In terms of the sales growth of various products, the performance of peier-13, the inhibitor of CDK4 / 6, piperacillin, the oral anticoagulant apixaban and the autoimmune drug tolfatipu are the driving factors The sales of mature products such as pregabalin and sildenafil all decreased by more than 20%, especially the sales in the United States decreased by 44% and 65% year on year respectively Both are due to the patent cliff and the intensified competition for generic drugs The former expired in July 2019 in the United States, while the latter expired as early as December 2017 Figure 2: Pfizer's major drug sales in 2019 (US $100 million) Source: company financial report, Zhongkang Industrial Capital Research Center According to Roche financial report, Roche's revenue for the whole year last year was 61.466 billion Swiss francs, up 9% year on year, of which the pharmaceutical business revenue was 48.516 billion Swiss francs, up 11% year on year With the decline of two of the top three brands, meropene (- 4%) and Herceptin (- 14%), Roche's pharmaceutical business has realized double-digit growth driven by sales growth of multiple sclerosis drugs ocrevus, new hemophilia drugs hemlibra, cancer drugs tecentriq and perjeta Figure 3: sales volume of Roche's main drugs in 2019 (CHF 100 million) Source: company financial report, Zhongkang Industrial Capital Research Center In 2019, Novartis' revenue reached US $47.445 billion, up 6% year on year Among them, the revenue of innovative drugs was 37.714 billion US dollars, up 8% year-on-year, while the sales growth was driven by six products, i.e skoyuzumab, sakubatravsartan sodium, zolgensma, etrapa, ribesinib and rezumab The revenue of the world's second-largest generic pharmaceutical company, Sanders, was 9.731 billion US dollars, down 1% year-on-year, due to the strong growth of biological similar drugs (revenue US $1.607 billion, up 12% year-on-year, partially offset the continued price pressure in the retail generic industry, while biopharmaceuticals are driven by the double-digit growth of adamumumab, rituximab and etanercept It is worth mentioning that Novartis has 15 products with sales volume of more than US $1 billion last year, which is the largest multinational pharmaceutical enterprise with sales volume of more than 1 billion products Figure 4: sales volume of Novartis major drugs in 2019 (US $100 million) Source: company financial report, Zhongkang Industrial Capital Research Center In 2019, MSD achieved a total revenue of US $46.84 billion, a year-on-year increase of 11%, jumping to the fourth place in the list of pharmaceutical enterprises' revenue Its main performance growth comes from drug K, 9-valent cervical cancer vaccine Gardasil 9, etc There is no doubt that in 2019, K medicine broke through the $10 billion mark and became a $10 billion club, and it has also set a new speed of breaking the $10 billion mark after five years of listing Up to now, there are only six drugs for the $10 billion club, and in 2019, except for the first time on the list of K drugs from MSD, new base's Revlimid has entered the $100 club for the first time It is also worth mentioning that there are also two drugs with a growth rate of more than 100, namely olapari and lovatinib, with a growth rate of 137.4% and 171.1% Figure 5: main drug sales of MSD in 2019 (US $100 million) Source: company financial report, Zhongkang Industrial Capital Research Center In 2019, GlaxoSmithKline achieved a total sales performance of £ 33.8 billion, of which the pharmaceutical business, vaccine business and health consumer goods business were divided into £ 17.6 billion, £ 7.2 billion and £ 9 billion However, the report failed to meet analysts' expectations due to price pressures in the respiratory drug market In terms of specific products, the sales volume of GlaxoSmithKline's weight three in one HIV drug, trimeq (abacavir / lamivudine / dulutway), decreased by 4% compared with 2018, accounting for 5.4% of the total sales performance Its sales growth is mainly driven by shingrix, Ventolin (salbutamol), benlysta (bailyimab), Juluca (ribavirin / dulutway), etc., among which the growth rate of shingrix vaccine and HIV drug Juluca (ribavirin / dulutway) are over 100 Figure 6: sales volume of GlaxoSmithKline's major drugs in 2019 (US $100 million) Source: company financial report, Zhongkang Industrial Capital Research Center In 2019, Johnson & Johnson's total revenue was US $82.059 billion, up 0.59% year on year Among them, the revenue of pharmaceutical business is US $42.198 billion (+ 3.6%), the revenue of medical device business is US $25.963 billion (- 3.8%), and the revenue of consumer health business is US $13.898 billion (+ 0.3%) In 2019, Johnson & Johnson had 11 blockbuster drugs with sales of more than US $1 billion, 7 of which were in the field of autoimmune diseases and tumors The field of autoimmunity has always been the super heavyweight field of Johnson & Johnson It has successively launched infliximab, ulinumab, golimub and gusecyiumab, and has produced infliximab and ulinumab, the super heavyweight bombs Among them, the former is facing the competition of biosimilars from hospita, MSD / Samsung bioepis and Pfizer in the U.S market, and its sales decline is gradually increasing in recent years By 2019, its sales have declined from the peak of 7 billion US dollars to 4.38 billion US dollars The latter, contrary to infliximab, has achieved an amazing double-digit growth in the past three years, and has become a Johnson & Johnson drug Products with the largest sales In addition, it is worth mentioning that gusecchiumab), with a strong lead, increased by 85.9% In the field of tumor, especially multiple myeloma, Johnson & Johnson is a leading enterprise, which has successively launched a series of "Ke" products, such as Wanke, Dake, Zeke, Yike, Zhaoke, etc At present, 100 million million liang of "Ke" (ibtinib, daretosuzumab) has become its heavy bomb, with sales of US $3.411 billion and US $2.998 billion respectively in 2019 However, Sanofi's anti-CD38 monoclonal antibody isatuximab has submitted an application for listing, and may break the market monopoly situation of daretoyu monoclonal antibody in 2020 Figure 7: sales volume of major drugs of Johnson & Johnson in 2019 (US $100 million) Source: company financial report, Zhongkang Industrial Capital Research Center Sanofi's revenue in 2019 was 36.126 billion euros, up 4.8% year on year Among them, the pharmaceutical business revenue was 25.708 billion euros (+ 4.1%), the vaccine business revenue was 5.731 billion euros (+ 12%), and the consumer health business revenue was 4.687 billion euros (+ 0.6%) In terms of specific products, insulin glargine, its diabetes drug, was impacted by generic drugs, and its sales fell 15.5% to 3.012 billion euros from 3.565 billion euros in 2018; while dupixent's sales reached 2.074 billion euros in 2019, a year-on-year increase of 163.2%, becoming the most important growth point of Sanofi; as for vaccine drugs, it maintained a stable growth Figure 8: sales volume of Sanofi's major drugs in 2019 (100 million euros) Source: company financial report, Zhongkang Industrial Capital Research Center (8) Aberdeen Alberto's revenue in 2019 was US $33.266 billion, up 1.6% year on year In terms of specific products, Humira (adamumumab) continues to be the "king of medicine", however, it has also started to decline, falling 3.8% to $19.169 billion from the peak sales of $19.936 billion in 2018, and is expected to be further impacted by similar biological drugs in the future Imbruvica continued its high growth, while HCV product mavyret fell 15.9% to $2893 million due to the shrinking global emerging market In addition, skyrizi and rinvoq are two potential heavyweight products of Aberdeen, which deserve attention Source: company financial report, Zhongkang Industrial Capital Research Center If the revenue of Xinji from November 20, 2019 to December 31, 2019 is included, the total revenue of BMS for the whole year last year is 26.145 billion US dollars, an increase of 16% year on year After BMS completed the acquisition of the new base, it obtained lenalidomide, pomadolamine, albumin paclitaxel and other products of the new base Among them, the sales volume of lenalidomide reached US $10.823 billion in 2019, up 12% year on year, and successfully entered the club of US $10 billion The weight product o of BMS increased by 7% to 7.204 billion US dollars, but it is far from the K drug, which is closely related to the development of new indications In fact, since Q3 2018, drug o has been showing a weak growth, and its quarterly sales have remained stable at around 1.8 billion US dollars If drug o wants to reverse this trend, it needs to make a breakthrough in new indications Figure 10: sales volume of major drugs of Bristol Myers Squibb in 2019 (US $100 million) Source: company financial report, Zhongkang Industrial Capital Research Center Amgen's total revenue in 2019 is US $23.4 billion, down 2% year on year This is mainly due to the decline of sales of several core old products, such as Peugeot stilbene (- 28%), afayibotin (- 14%), sina Casse (- 69%) However, it is comforting to note that the sales volume of its autoimmune heavyweight product etanercept reached US $5.2 billion, an increase of 4% over the same period last year, and the patent was successfully extended to 2029 In addition, both of the two desurmabs (Prolia and xgeva) achieved growth, with total sales of $4.607 billion Figure 11: sales volume of Amgen's major drugs in 2019 (US $100 million) Source: company financial report, Zhongkang Industrial Capital Research Center In 2019, Geely's revenue reached US $22.449 billion, up 1.5% year on year Gilead's main products include HIV, hepatitis C and hepatitis B drugs Among them, biktarvy (bitegravir / enrotabine / tenofovir) achieved a sales volume of US $4.738 billion last year, an increase of 300%, which is a highlight of its performance In addition, hepatitis B drug vemlidy and car-t product yescarta both achieved double-digit high-speed growth However, many of Geely's product sales are in a declining state, especially the once brilliant hepatitis C business, and the performance continues to shrink Figure 12: sales volume of Gilead's major drugs in 2019 (US $100 million) Source: company financial report, Zhongkang Industrial Capital Research Center In 2019, Lilly achieved net sales of US $22.319 billion, up 4% year on year Among the diabetes products, dulaglutide, its core product, achieved a 29% increase, with sales of US $4.128 billion In addition, insulin glargine injection, engeliejin, these diabetes drugs have also achieved rapid growth Figure 13: sales volume of major drugs of Lilly in 2019 (US $100 million) Source: company financial report, Zhongkang